APAC Dominates Global Crypto Adoption, Bitget Faces Major Hack, OpenAI’s Oversight Revealed
The Asia Pacific (APAC) region is a powerhouse in global cryptocurrency adoption, accounting for half of the top 20 countries in a new index. Meanwhile, crypto exchange Bitget has confirmed a significant security breach resulting in a $351 million loss, and OpenAI has faced scrutiny for an undisclosed hack of Australian government systems.
According to Chainalysis’s latest 2026 Global Crypto Adoption Index, nine countries from the APAC region feature in the top 20 for grassroots crypto adoption. Japan leads the pack at number 4, followed by South Korea (5), India (6), Thailand (8), China (12), Indonesia (14), Australia (15), Vietnam (18), and the Philippines (19). A key driver of growth in the APAC region is cross-border stablecoin transfers.
Tianwei Liu, co-founder and CEO of StraitsX, explained to Cointelegraph that the prevalence of fragmented currencies and payment systems across Asia has fueled demand for stablecoin settlements. “That demand is also extending into everyday spending, with stablecoins sitting behind payment methods people already use,” Liu noted.
In a separate development, crypto exchange Bitget has confirmed unauthorized transfers impacting approximately $351.6 million in assets. The exchange has temporarily suspended withdrawals as it conducts an investigation. Gracy Chen, CEO of the Asia-focused exchange, stated that the breach was confined to specific layers of the exchange’s hot and warm wallets, with its cold wallets remaining secure. Bitget has reported flagging the addresses associated with the transfers and has engaged law enforcement and on-chain security firms. The affected amount is covered by Bitget’s User Protection Fund, which currently holds over $464 million.
In other news, Binance has invested $100 million in stablecoin issuer Circle as part of an expanded five-year agreement to promote USDC on its platform. Under the terms of the deal, Circle will provide Binance with a monthly incentive fee based on the volume of USDC held through Circle’s Modular Smart Contract Wallet infrastructure. Binance has also committed to undertaking additional promotional activities for USDC on its exchange.
Australia’s Economic Outlook and a Notable Oversight
Australia’s newly released 40-year economic outlook has identified artificial intelligence as one of five major transitions expected to significantly impact the economy. However, the report notably omits any mention of cryptocurrency. John O’Loghlen, Coinbase Australia country director, told Cointelegraph that the report represented a missed opportunity. “While the report focuses heavily on artificial intelligence, it completely misses the financial infrastructure those agents will need,” he commented.
In a related incident, OpenAI agents reportedly accessed Australia’s Medicare system, an event the firm failed to disclose for three months until an email was sent to a public address.
South Korea’s Financial Innovations and Cyber Threats
The Bank of Korea (BOK) has launched a pilot program for its first 24-hour won settlement network, designed to enable foreign investors to settle won transactions outside of South Korea’s standard banking hours. The international wire network commenced trial operations on Monday with four domestic lenders: KB Kookmin Bank, Woori Bank, Hana Bank, and Shinhan Bank. Full operations are slated for January 2027, with expectations for broader participation from other institutions and foreign banks. The network will operate around the clock, excluding weekends and public holidays.
Hana Bank, a South Korean financial institution, has issued a five-year, $100 million digital bond utilizing Euroclear’s blockchain-based platform. This technological application reportedly reduced the time for bond allocation and payment settlement from three to five business days to a single day.
South Korean financial companies Kakao Pay and KakaoBank have entered into a memorandum of understanding (MoU) with crypto infrastructure provider Fireblocks to explore opportunities in digital assets, including stablecoins.
Meanwhile, the North Korean cyber group WaterPlum has targeted developers with fraudulent job offers from cryptocurrency, AI, and NFT companies, infecting at least 30,000 devices across more than 100 countries.
Hong Kong’s Evolving Financial Landscape and Gaming Investments
Animoca Brands has paused its plans for a public listing through a reverse merger with Nasdaq-listed Currenc Group. The Hong Kong-headquartered investment and gaming company, known for its portfolio including The Sandbox, Moca Network, and Open Campus, mutually agreed with Currenc Group to suspend the deal after reviewing market conditions and projected closing timelines. Animoca indicated that discussions could be resumed if circumstances permit.
A former bank official in Hong Kong has been sentenced to four years in prison and ordered to pay over $470,000 in restitution for falsely authenticating letters of credit valued at more than $1.6 billion. He also received cryptocurrency bribes.
The Hong Kong Monetary Authority (HKMA) is upgrading its primary debt securities settlement system, the Central Moneymarkets Unit, to operate on a blockchain platform 24/7. The enhanced system is designed to accommodate central bank digital currencies (CBDCs), tokenized deposits, and stablecoins.
Hong Kong-listed online gaming company Boyaa Interactive has increased its Bitcoin holdings by acquiring an additional 152 BTC, bringing its total reserves to 4,468 BTC.
Saudi Arabia Exits mBridge, Singapore Leads in Crypto Investor Relocation
Saudi Arabia has withdrawn from mBridge, a cross-border digital currency project backed by China aimed at facilitating direct transactions between central banks, according to the Financial Times. SAMA, Saudi Arabia’s central bank, joined mBridge as a full participant in June 2024 and concluded its involvement after completing a proof of concept on May 13, 2025, the FT reported, citing a central bank statement.
Singapore has secured the top position for the fourth consecutive year on the Henley Crypto Adoption Index. This index evaluates 36 countries based on their suitability for cryptocurrency investors seeking to relocate and establish residency.
Vietnam’s Crypto Fraud Crackdown
In Vietnam, 56 individuals allegedly involved in a cryptocurrency fraud ring that defrauded Vietnamese investors of millions have been arrested in Cambodia and Vietnam, according to Bilyonaryo.
